New York, New York–(Newsfile Corp. – May 29, 2024) – Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR) has undertaken a broad restructuring initiative, transforming itself from a traditional telecommunications entity into a diversified holding company with a focus on financial technology (FinTech) innovations. This strategic pivot is designed to strengthen shareholder confidence and create strong, profitable business centers.

The company leveraged its newly acquired financial and management skills to achieve its goals. The mission is clear: elevate overall performance and transparency through dynamic media communications that enable stakeholders and customers to connect with the company in more powerful ways.

At the heart of Hammer Group’s diversification strategy is its pioneering subsidiary, HammerPay (USA) Ltd. This FinTech innovator has developed a revolutionary digital wallet and neo-banking ecosystem aimed at transforming digital banking for the unbanked population all over the world. The journey began with the August 2023 launch of the UBA Remit Wallet in partnership with the United Bank of Africa (UBA) in Liberia. This innovative collaboration laid the foundation for an ambitious expansion.

“Building on the success of the pilot program in Liberia, HammerPay is on an aggressive mission to sign up new banking partners and customers, extending its presence across Africa and beyond,” said Michael Cothill, executive chairman of Hammer. “The recent partnership with local ISP, Spectrum Communications – Liberia, highlights this strategic expansion to meet the diverse financial needs of consumers and businesses with unprecedented convenience, security and accessibility.”

With its versatile and scalable platform, HammerPay seeks to become a dominant force in the global FinTech landscape. The company is paving the way for exponential growth and far-reaching impact. Gerald Sherman, CEO of HammerPay, added “We are thrilled to announce the expansion of HammerPay, a testament to our dedication to innovation and customer-centric service. By signing new banking partners and customers, we are not only strengthening our presence in Liberia but also unlocking new opportunities across Africa. We are excited to embark on this journey to connect with our customers and offer millions of individuals and businesses seamless, secure and accessible financial solutions.”

To fuel its technology initiatives, the company’s board of directors approved a strategy, previously announced in a letter to shareholders, to divest its telecommunications business. This restructuring will allow the company to repurchase its shares while generating additional funds for technological advancements, minimizing dilution for common shareholders. With HammerPay’s revenues increasing and plans to transition its FinTech ventures to a larger, more liquid senior exchange, the company expects a significant increase in profitability and increased capital availability. By leveraging FinTech innovations and expanding into new markets, Hammer Group is not only poised for growth, but poised to have a lasting impact on the global financial landscape.

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About HammerPay

HammerPay (USA) Ltd, a wholly owned subsidiary and brand operated by Hammer Fiber Optics Holdings Corp., is a mobile-first digital technology product, providing stored-value digital services for businesses and consumers, including those previously left out of the revolution digital. HammerPay was developed to build a highly attractive digital cash/cashless solution to be implemented together with partners around the world, offering expertise for both developed and developing economies. HammerPay connects mobile consumers to cashless shopping and bill payments, immediately enabling broad consumer adoption. For more information, contact Investor Relations at info@hammerpay.com.

About Hammer Fiber Optics Holdings Corp.

Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR) is a company investing in the future of technology. Hammer has expanded its strategy to focus on the rapidly evolving world of innovative technology and, in an effort to keep pace, has restructured the group to enable the creation of several related verticals. Hammer has entered the Fintech sector, which is rapidly becoming the mainstream technology underlying today’s telecommunications applications. For further information contact Investor Relations at info@hmmrgroup.com.

Forward-Looking Statements

This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than current and historical facts and conditions contained in this release, including any statements regarding our future operating results and financial positions, business strategy, plans and objectives for future operations, are forward-looking statements (within the meaning of of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations regarding future events and are based on assumptions, subject to risks and uncertainties, and subject to change at any time. We operate in a very competitive and rapidly evolving environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in projections or forward-looking statements. The forward-looking statements contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

To view the original version of this press release, please visit https://www.newsfilecorp.com/release/210886

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